Sector Update: Financial Stocks Rise Late Afternoon

03:40 PM EDT, 08/06/2025 (MT Newswires) -- Financial stocks advanced in late Wednesday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each rising 0.5%

The Philadelphia Housing Index gained 0.2%, while the Real Estate Select Sector SPDR Fund (XLRE) fell 0.6%.

Bitcoin (BTC-USD) added 1% to $115,369, and the yield for 10-year US Treasuries rose 2 basis points to 4.22%.

In corporate news, Apollo Global Management (APO) agreed to buy a majority stake in Stream Data Centers, which builds and operates large-scale data center campuses, Bloomberg reported. Apollo shares added 0.2%.

Payoneer Global (PAYO) provided an upbeat full-year revenue outlook on Wednesday amid easing tariff concerns, while the digital payments company reported mixed Q2 results. Its shares jumped 14%.

Carlyle (CG) shares gained 3.7% after posting better-than-expected Q2 earnings.

TPG (TPG) shares popped 5.5% after it reported a narrowed Q2 net loss as revenue increased during the period. TPG also raised its quarterly dividend.

Bank of America (BAC) is asking its junior bankers to disclose if they have accepted job opportunities elsewhere and telling them they face reassignment to other areas if they do so, Bloomberg reported. The bank's shares eased 0.1%.

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